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What: Leggett & Platt
So what: The company, which manufactures components used in furniture and commercial fixtures, reported a drop in sales from Q2. Leggett & Platt typically experiences a seasonal increase in sales in Q3 compared with Q2. Earnings of $0.31 per share were down nearly 9% compared with last year. Leggett & Platt executives cited weakening in the residential furniture market during the quarter.
Now what: Because the company's products are inputs into residential furniture, Leggett & Platt's weak sales may also be a bad sign for furniture companies such as La-Z-Boy
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